Freight rates to North Europe remain under pressure, with the SCFI dropping by 3.3% last week while the SCFIS fell by 5.5%. Rates have remained under pressure since the US tariffs forced carriers to redeploy transpacific capacity to the European route since April but this is set to reverse in the next 3 months as US demand rebounds.
Spot rates have dropped to a low as $1,600/FEU with carriers still under-cutting each other through the end of May. However, the situation is expected to reverse so